The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale
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About the Author
Simon Clark is a Wall Street Journal reporter based in London. His investigative reporting has led him to the poppy fields of Afghanistan, the copper mines of Congo, and to many banks in the City of London. He was nominated for a Pulitzer Prize in 2016. He lives in Lewes, England.
Will Louch is at law school in London. He was previously a Wall Street Journal reporter covering private equity in London and New York. Before that, he was based in Brussels where he wrote about European politics. He lives in London.
"How do you dupe the World Bank, the World Economic Forum, the Gates Foundation, and countless financial luminaries from around the globe? Attach yourself to the latest piece of financial gibberish--philanthrocapitalism--hire a couple of McKinsey consultants, and then get the Harvard Business School to write glowing reports about you. In this page-turner, Clark and Louch serve up an emphatic indictment of the 'expert class'--people who think agility with numbers is somehow equivalent to wisdom and morality." --Duff McDonald, author of The Golden Passport
Simon Clark and Will Louch do us a service with their highly readable reminder of how greed and gullibility so often go together, and why we need good investigative journalism to keep reminding us that if the pitch (and the person doing the pitch) look just too good to be true, there is probably something fishy going on behind the scenes.--David Omand, former director of GCHQ and author of How Spies Think
"This splendid cautionary tale lays bare the vulnerabilities of the world of high finance, where even the grandees of Davos were marks for the kid from Karachi, who could, seemingly, simultaneously produce mega-returns for investors and lift up poor people in the Third World--until, as Clark and Louch compellingly recount, he disastrously could not."--John Helyar, coauthor of Barbarians at the Gate
"Arif Naqvi separated billionaires and royalty from their wealth by appealing to their private conceit that they had made their billions doing God's work. The twists and turns of the increasingly desperate effort to raise funds to protect Arif's reputation and keep Abraaj afloat--the near misses and lucky saves--are spellbinding. You won't want to put the book down."--Eileen Appelbaum, coauthor of Private Equity at Work
"The writing matches that of the best thrillers, with one huge extra bonus: you learn tons, even if you know this industry reasonably well. The rigor and colossal effort that went into this book transpires on each page. There is no dull moment. It is 300 pages of reading pleasure mixed with serious discomfort at what is being presented: the world of finance as it can be."--Ludovic Phalippou, professor of financial economics at Saïd Business School, University of Oxford
A riveting chronicle of the meteoric rise and scandalous fall of the Dubai private equity firm Abraaj and its conniving founder, Arif Naqvi. . . . This deeply reported tale captivates.--Publishers Weekly
Compelling and disturbing, the book is a pointed tale of hubris, greed, and the narrow limits of so-called capitalistic 'benevolence' in the era of growing economic inequality. . . . Timely and provocative reading on one of the many perils of the murky private equity world.--Kirkus Reviews
A rip-roaring account of one of the biggest frauds in corporate history. Through a pacey and deeply researched narrative, Clark and Louch unpick how a private equity trailblazer convinced some of the world's richest and most sophisticated investors to part with their money--with devastating consequences. A must-read for anyone who is skeptical about the claims made by investment companies about their ethical credentials and motives.--Owen Walker, award-winning journalist and author of Built on a Lie